Key Takeaways CIEN & NOK compete in optical networking as carriers boost fiber spending to handle AI-driven traffic.CIEN expects 2026 revenue of $5.7$6.1B, citing solid demand from cloud, DCI & AI infrastructure investments.NOK expects double-digit optical growth on AI and cloud orders and an expanded portfolio after Infinera.Ciena Corporation (CIEN) and Nokia (NOK) are both established players in the telecommunications equipment industry, with a strong focus on optical networking solutions used by service ...

Group 1 - The core viewpoint of the article emphasizes that the China Railway Group has declared the 12306 platform as the only official ticket sales channel, stating that it has not partnered with any third-party platforms and will enhance its system to combat ticket scalping [2][3] - The China Railway Group's passenger department director, Zhu Wenzhong, highlighted the negative impact of third-party platforms on the stability of the 12306 system and announced plans to optimize the risk control system for effective identification [3] - The railway authority is focusing on four key areas for ticket sales organization: addressing the needs of students, workers, and the elderly; introducing a limited-time free refund policy for erroneous purchases; continuously improving ticket sales strategies; and ensuring the stable operation of the 12306 system [5] Group 2 - The article mentions that the 2026 Spring Festival travel period is expected to see a record 9.5 billion person-times of cross-regional movement, with self-driving travel being the main mode of transport, accounting for about 80% [6] - The article also notes that the total passenger volume for railways and civil aviation is projected to reach 540 million and 95 million respectively during the Spring Festival travel period, with both figures expected to exceed historical peaks [6]

Nokia (NYSE: NOK) shares should seemingly be up today. The Finnish telecom-technology company's fourth quarter revenue grew 3% year over year to $7.13 billion, topping analysts' estimates of $6.95 billion. And, per-share earnings of $0.21 beat estimates of $0.17. Guidance for the year now underway is also encouraging, with the company expecting top-line growth of between 6% and 8%. As of 3:06 p.m. ET today, however, Nokia's stock is down 8%. What gives? Where to invest $1,000 right now? Our analyst team j ...

I've been researching companies in-depth for over a decade, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After writing my own blog for about 3 years, I decided to switch to a value investing-focused YouTube channel, where I researched hundreds of different companies so far. I would say my favorite type of company to cover are metals and mining stocks, but I am comfortabl ...

Nokia Corp (NYSE:NOK) is one of the Best Tech Stocks Under $10 to Buy , at least based on two ratings upgrades that the company gained in January. For instance, Morgan Stanley upgraded Nokia to Overweight from Equal Weight on January 15, with a price target change to €6.50 from €4.20, noting that the company is now more exposed to network demand driven by data centers and AI, which now account for about 6% of group revenues. The analyst projected that the addressable market for data center and AI activity ...

Key Takeaways Nokia posted stronger-than-expected Q4 results, with both revenues and earnings topping consensus estimates.NOK's revenues rose 2% YoY, led by growth in IP Networks and Optical Networks within Network Infrastructure.Nokia's net income fell YoY as higher operating expenses weighed on profits despite solid sales growth.Nokia Corporation (NOK) reported stronger-than-expected fourth-quarter 2025 results, with both top and bottom lines beating the Zacks Consensus Estimate. The company's top line in ...

Core Viewpoint - The European Union is considering increasing support for domestic industries, with Nokia's CEO emphasizing the interdependence between Europe and the U.S. in the technology sector [1][3]. Group 1: Industry Dynamics - Nokia's CEO, Justin Hottad, stated that no company can rely solely on either the European or U.S. market, highlighting the necessity of broad market access for success in the technology industry [1][3]. - Governments are reassessing the risks of collaborating with Chinese suppliers, positioning Nokia and its Swedish competitor Ericsson as secure network equipment providers for the Western bloc [1][3]. - The EU is focused on enhancing local technological capabilities and reducing dependence on third-party countries, including the U.S., which presents a delicate balance for Nokia and Ericsson as their significant revenues come from both sides of the Atlantic [1][3]. Group 2: Market Opportunities - The EU Commission has proposed gradually removing high-risk suppliers from critical areas like 5G networks, which could further diminish Huawei's market share in Europe [4]. - The past few years have seen weak 5G investment in Europe, but the large-scale removal of Chinese equipment could create new market opportunities for Nokia and Ericsson [5]. - Hottad expressed optimism about the EU's recent initiatives but urged for faster implementation and a shift from advisory to mandatory regulations for operators [5].

Financial Data and Key Metrics Changes - In Q4 2025, net sales increased by 3% to EUR 6.1 billion, with an operating profit of EUR 1 billion and free cash flow of EUR 0.2 billion [4][16] - For the full year 2025, net sales reached EUR 19.9 billion, with an operating profit of EUR 2 billion, slightly above guidance [4][16] - Free cash flow conversion was 72%, consistent with guidance [4][16] - Gross margin improved by 90 basis points to 48.1%, while operating margin was 17.3%, down 90 basis points due to increased investments [16][17] Business Line Data and Key Metrics Changes - Network Infrastructure saw a 7% increase in net sales in Q4, driven by a 17% growth in optical networks [5][17] - Cloud and Network Services experienced a 4% decline in Q4, attributed to revenue recognition timing, but had a 6% growth for the full year [17][18] - Mobile Networks net sales increased by 6%, with growth in the Middle East, Africa, Japan, and Indonesia [18] - Nokia Technologies faced a 17% decline in net sales in Q4, impacted by lower catch-up sales and a EUR 20 million impairment charge [19] Market Data and Key Metrics Changes - AI and cloud customers accounted for 16% of total net sales and 30% of Optical Networks in Q4 [17] - North America showed strong growth in Network Infrastructure, while Cloud and Network Services and Mobile Networks declined [20] - In APAC, growth was noted in Japan and Indonesia, while declines were seen in India and Greater China [20] Company Strategy and Development Direction - The company aims to focus on long-term value creation, emphasizing AI and cloud opportunities, and has simplified its operating model [4][11] - A new Mobile Infrastructure segment was formed to enhance accountability and profitability [8] - The company is investing in defense-grade solutions and has established Nokia Defense as a new incubation unit [10] - The target for operating profit in 2026 is set between EUR 2 billion and EUR 2.5 billion, with a focus on disciplined execution [12][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term potential of optical networking and AI infrastructure, despite a conservative growth forecast for 2026 [30][31] - The company anticipates a somewhat lower than normal seasonal decline in Q1 2026 due to strong Q4 performance [33] - Management highlighted the importance of clarity in regulatory frameworks like the Cybersecurity Act for future business opportunities [54][56] Other Important Information - The company closed the acquisition of Nokia Shanghai Bell, expecting EUR 200 million in cost synergies [11] - A new head of IP networking has been appointed to enhance focus on this area [47] - The company plans to invest EUR 900 million to EUR 1 billion in CapEx, primarily for optical networks [35][36] Q&A Session Summary Question: Growth expectations for optical networks - Management acknowledged the strong growth in Q4 but guided for a more conservative 10%-12% growth in 2026 due to transitioning from a telco-centric base [30][31] Question: Seasonal trends in Q1 - Management indicated that a slower start to the year is typical following a strong Q4, particularly in mobile networks [33] Question: CapEx visibility and order book - Management emphasized long-term trends and confidence in the market, noting that CapEx investments are aimed at supporting future growth [36] Question: Impact of restructuring costs - Management confirmed ongoing restructuring costs but expects significant savings in the long term [38] Question: North America market dynamics - Management acknowledged headwinds from customer losses but noted positive trends in AI and cloud segments [66][67] Question: Supply constraints in optical networks - Management confirmed supply constraints exist but emphasized ongoing investments to support capacity and capability in the ecosystem [60][62]

Nokia (NYSE:NOK) Q4 2025 Earnings call January 29, 2026 04:30 AM ET Company ParticipantsAlexander Duval - Head of Europe Technology Hardware and Semiconductors Equity ResearchDavid Mulholland - Head of Investor RelationsJustin Hotard - President and CEOMarco Wirén - CFOSami Sarkamies - Head of TMTSimon Leopold - Managing DirectorSébastien Sztabowicz - Head of IT Hardware and Semis Sector ResearchTerence Tsui - VPConference Call ParticipantsArtem Beletski - Equity AnalystDaniel Djurberg - Senior Equity Analy ...

Financial Data and Key Metrics Changes - In Q4 2025, net sales increased by 3% to EUR 6.1 billion, with an operating profit of EUR 1 billion and free cash flow of EUR 0.2 billion [3][14] - For the full year, net sales reached EUR 19.9 billion, with an operating profit of EUR 2 billion, slightly above the midpoint of guidance [3][14] - Free cash flow conversion was 72%, consistent with guidance [3][14] - Gross margin improved by 90 basis points to 48.1%, while operating margin was 17.3%, down 90 basis points due to increased investments [14][15] Business Line Data and Key Metrics Changes - Network Infrastructure saw a 7% increase in net sales in Q4, driven by a 17% growth in optical networks [4][15] - AI and cloud customers accounted for 16% of net sales and 30% of Optical Networks in Q4 [15] - Cloud and Network Services experienced a 4% decline in Q4, but delivered 6% growth for the full year [15][16] - Mobile Networks net sales increased by 6%, driven by growth in the Middle East, Africa, Japan, and Indonesia [16] - Nokia Technologies faced a 17% decline in net sales in Q4, impacted by lower catch-up sales [17] Market Data and Key Metrics Changes - North America showed strong growth in Network Infrastructure, while Cloud and Network Services and Mobile Networks declined [18] - In APAC, Japan and Indonesia grew, but there were declines in India and Greater China [18] - Europe grew by 4%, with strength in network infrastructure, while the Middle East and Africa saw growth in both mobile networks and network infrastructure [18] Company Strategy and Development Direction - The company is focused on disciplined execution to capture growth in AI and cloud, with a simplified operating model and clearer priorities [10][11] - The acquisition of Infinera is part of the strategy to strengthen the portfolio and focus on areas with opportunities for differentiation and sustainable market leadership [3][10] - The creation of Nokia Defense aims to deliver defense-grade solutions based on Nokia's mobile and network infrastructure technologies [9] - The company is investing in optical and IP networks as primary growth engines, with a target of 6%-8% compound annual growth in network infrastructure from 2025 to 2028 [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term opportunities in optical networking and AI infrastructure, despite a conservative guidance for growth [28][29] - The company anticipates a somewhat subseasonal trend in Q1 2026 due to normalization after a strong Q4 [31] - Management highlighted the importance of clarity on replacement schedules and support for network operators in light of new regulations [50][51] Other Important Information - The company closed the transaction to take full ownership of Nokia Shanghai Bell, expecting approximately EUR 200 million in run rate cost synergies [10] - The company is targeting an operating profit of EUR 2 billion to EUR 2.5 billion for 2026, with a focus on new product launches and investments in AI and cloud [11][70] Q&A Session Summary Question: On optical growth guidance - The company acknowledged the strong growth in optical networking but provided conservative guidance for 2026 due to transitioning from a telco-centric base and the need for disciplined execution [28][29] Question: CapEx visibility and order book - Management indicated that CapEx investments are aligned with long-term market trends and near-term demand, emphasizing the importance of these investments for future growth [34][35] Question: Supply-related constraints - The company recognized supply constraints in the broader ecosystem but remains focused on securing supply and managing commitments [57] Question: North America market dynamics - Management noted headwinds from customer losses in North America but highlighted positive trends in AI and cloud segments [63][64] Question: Operating guidance for 2026 - The company provided insights into the EUR 2 billion to EUR 2.5 billion guidance, emphasizing the impact of new product launches and investments in AI and cloud [72][74]